Unified Exchange Compensation Fund Financial Statements

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Unified Exchange Compensation Fund ("The Fund")

Report of the Securities Compensation Fund Committee ("the Committee")

	The members of the Committee present their annual report and the audited financial statements for the year ended 31st March 1998.
I	ESTABLISHMENT OF THE FUND The Fund was established for the purposes set out in Part X of the Securities Ordinance (Chapter 333).
2	FINANCIAL RESULTS
	The financial results are set out in the financial statements presented on pages 79 to 84.
3	MEMBERS OF THE COMMITTEE
	The members of the Committee during the year and up to the date of this report were : -

	Mr. David J White
	Mrs. Laura M Cha	(appointed on 1st January 1998)
	Mr. Alec Tsui
	Mr. Roderick Chalmers
	Mr. Syed Bagh Ali Shah Bokhary	(appointed on 17th November 1997)
	Mr. Michael Wu	(resigned on 31st December 1997)
	Mr. John G.C. Seto	(resigned on 16th November 1997)

4	INTERESTS IN CONTRACTS
	No contracts of significance to which the Fund was a party and in which a Committee Member had a material interest, whether directly or indirectly, subsisted at the balance sheet date or at any time during the year.
5	AUDITORS
	The retiring auditors, Messrs. KPMG Peat Marwick, being eligible, offer themselves for re-appointment.
	On behalf of the Committee
	David J White
	Chairman
	11th June 1998